Common use of Royalty Payments and Reports Clause in Contracts

Royalty Payments and Reports. Receptos shall calculate all amounts payable to AbbVie pursuant to Section 5.2 at the end of each Calendar Quarter, which amounts shall be converted to Dollars, in accordance with Section 5.5. Receptos shall report to AbbVie the royalty amounts due with respect to a given Calendar Quarter within *** days after the end of such Calendar Quarter, and Receptos shall pay to AbbVie the royalty amounts due with respect to a given Calendar Quarter within *** days after the end of such Calendar Quarter. Each payment of royalties due to AbbVie shall be accompanied by a statement of the amount of Net Sales of each Licensed Product in each country or other jurisdiction in the Territory during the applicable Calendar Quarter (including such amounts expressed in local currency and as converted to Dollars) and a calculation of the amount of royalty payment due on such Net Sales for such Calendar Quarter.

Royalty Payments and Reports. Receptos AbbVie shall calculate all amounts payable to AbbVie Receptos pursuant to Section 5.2 6.2 at the end of each Calendar Quarter, which amounts shall be converted to Dollars, in accordance with Section 5.56.6. Receptos AbbVie shall report to AbbVie Receptos the royalty amounts due with respect to a given Calendar Quarter within *** days after the end of such Calendar Quarter, and Receptos AbbVie shall pay to AbbVie Receptos the royalty amounts due with respect to a given Calendar Quarter within *** days after the end of such Calendar Quarter. Each payment of royalties due to AbbVie Receptos shall be accompanied by a statement of the amount of Net Sales of each Licensed Product in each country or other jurisdiction in the Royalty Territory during the applicable Calendar Quarter (including such amounts expressed in local currency and as converted to Dollars) and a calculation of the amount of royalty payment due on such Net Sales for such Calendar Quarter.